NASDAQ HITS ONE-MONTH LOW AS TESLA AND ALPHABET KNOCK MEGACAPS DOWN

The Nasdaq plummeted to a one-month low on Wednesday after Tesla and Alphabet disappointed with lackluster earnings, prompting investors to question if the Big Tech and AI-fueled 2024 equity rally was sustainable in the long run.

Tesla slumped 11%, set to lose around $83 billion in market value at current levels from Tuesday's close, if losses hold, after the EV maker announced its lowest profit margin in more than five years and missed second-quarter earnings estimates.

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